Bank Reconciliations & Cash Internal Controls
4.2 (92 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
11,124 students enrolled

Bank Reconciliations & Cash Internal Controls

Internal controls, bank reconciliations, and internal controls related to checking account
4.3 (94 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
11,124 students enrolled
Last updated 6/2019
English
English [Auto-generated]
Current price: $119.99 Original price: $199.99 Discount: 40% off
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This course includes
  • 9.5 hours on-demand video
  • 17 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Assignments
  • Certificate of Completion
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What you'll learn
  • Internal Controls
  • Cash Receipts Internal Controls
  • Cash Disbursements Internal Controls
  • Bank Reconciliation
  • Petty Cash
  • Comprehensive Problem
  • Definitions & Key Terms
Requirements
  • We should have a basic understanding of financial accounting and debits and credits.
Description

We will discuss internal controls including what they are, why they are useful, and the objectives of internal controls. We will then move to internal controls specific to cash including bank reconciliations. 

Bank reconciliations are important controls for both large and small companies. After the double entry accounting system itself, the bank reconciliation is one of the most important internal controls. The bank reconciliation will compare the bank statement to the cash book balance as of a point in time and reconcile the difference between the two. The bank reconciliation process will provide more assurance of the cash account and will provide more assurance over many other accounting processes because most accounting processes include cash. For example, reconciling the bank account provides more assurance over the revenue cycle, purchases cycle, and payroll cycle. 

We will also discuss the setting up and recording of a petting cash account, a process that can be more complex then if first seems. 

In addition to instructional video, this course will include downloadable

•    Downloadable PDF Files

•    Excel Practice Files

•    Multiple Choice Practice Questions

•    Short Calculation Practice Questions

•    Discussion Questions

The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material.

Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships.

Multiple choice example question helps us improve our test-taking skills by reducing the information into the size and format of multiple choice questions and discussing how to approach these questions.

Short calculation questions help us reduce problems that have some calculation down to a short format that could be used in multiple choice questions.

Discussion Question will provide an opportunity to discuss these topics with the instructor and other students, a process many students find very helpful because it allows us to see the topic from different viewpoints.

Who will we be learning from?

You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together curriculum.

You will be learning from somebody who is a:

•    CPA – Certified Public Accountant

•    CGMA – Chartered Global Management Accountant

•    Master of Science in Taxation

•    CPS – Certifies Post-Secondary Instructor

•    Curriculum Development Export

As a practicing CPA the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels.

As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications.

The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro. 

Content Includes: 

  • Internal controls
  • Cash receipts internal controls
  • Cash disbursements internal controls
  • Bank reconciliations
  • Petty cash
  • Accounting cycle
  • Definitions and key terms
Who this course is for:
  • Accounting students
  • Business owner
  • Anyone who whats to learn accounting
Course content
Expand all 77 lectures 09:34:08
+ Internal Controls Overview and Cash Internal Controls Introduction
7 lectures 37:05
2 Internal Controls Overview and Cash Internal Controls Introduction Overview
01:39
PDF - 20 Cash Internal Controls Overview
00:08
Multiple Choice Questions 1 - Cash and Internal Controls
07:56
List and describe the principles of internal controls.
Discussion Question 1 Cash & Internal Controls
1 question
Accounting Comic Break
00:15
+ Cash Receipts Internal Controls
5 lectures 18:45
3 Cash Receipts Internal Controls
00:50
PDF - 30 Cash Receipts Internal Controls
00:08
30 Cash Receipts Internal Controls
08:07
Multiple Choice Questions 2 - Cash and Internal Controls
09:25
Discuss a voucher system and how it can work.
Discussion Question 2 Cash & Internal Controls
1 question
Describe outstanding items as it relates to bank reconciliations.
Discussion Question 3 Cash & Internal Controls
1 question
Accounting Comic Break
00:15
+ Cash Disbursements Internal Controls
5 lectures 17:31
4 Cash Disbursements Internal Controls
00:49
PDF - 40 Cash Dismemberment Internal Controls
00:08
40 Cash Disbursements Internal Controls
08:07
Multiple Choice Questions 3 - Cash and Internal Controls
08:11
What is petty cash and its purpose?
Discussion Question 4 Cash & Internal Controls
1 question
What is a bank reconciliation and its purpose?
Discussion Question 5 Cash & Internal Controls
1 question
Accounting Comic Break
00:16
+ Bank Reconciliations
14 lectures 01:56:49
5 Bank Reconciliations
01:34
PDF - 50 Bank Reconciliation D & D
00:08
50 Bank Reconciliation-Accounting%2C Financial
19:38
Excel Download
00:05
9.10 Bank Reconciliation January
23:29
Excel Download
00:05
Worksheet - 9.12 Bank Reconciliation Adjusting Entries January
17:48
Excel Download
00:05
Worksheet - 9.15 Bank Reconciliation February
21:01
Excel Download
00:05
Worksheet - 9.20 Bank Reconciliation Feb. Adjusting Entries
14:16
Multiple Choice Questions 4 - Cash and Internal Controls
08:27
Short Calculation 1
09:53
Describe adjustments that may be discovered during a bank reconciliation process.
Discussion Question 6 Cash & Internal Controls
1 question
Accounting Comic Break
00:15
+ Petty Cash
9 lectures 01:01:23
6 Petty Cash
01:30
PDF - 60 Petty Cash
00:08
60 Petty Cash
20:05
Excel Download
00:05
Worksheet - 800.10 Petty Cash Journal Entries Part 1-Accounting%2C Financial
10:02
Worksheet 800.20 Petty Cash Journal Entries Part 2-Accounting%2C Financial
10:39
Multiple Choice Questions 5 - Cash and Internal Controls
08:14
Short Calculation 2
10:25
What are internal controls and their purpose?
Discussion Question 7 Cash & Internal Controls
1 question
Accounting Comic Break
00:15
+ Comprehensive Problem
15 lectures 02:53:19
7 Comprehensive Problem
01:23
Excel Download
00:05
1 Accounting%2C Financial - Comp Prob Service Co 1 Part 1
15:01
2 Accounting%2C Financial - Comp Prob Service Co 1 Part 2
15:10
3 Accounting%2C Financial - Comp Prob Service Co 1 Part 3
15:20
4 Accounting%2C Financial - Comp Prob Service Co 1 Part 4
22:13
5 Accounting%2C Financial - Comp Prob Service Co 1 Adjusting Entries part 5
15:02
6 Comp Prob Service Co 1 Adjusting Entries part 6
20:05
7 Accounting%2C Financial - Comp Prob Service Co 1 Financial Statements part 7
15:01
8 Accounting%2C Financial - Comp Prob Service Co 1 Financial Statements part 8
16:39
9 Accounting%2C Financial - Comp Prob Service Co 1 Closing Process Part 9
10:02
10 Comp Prob Service Co 1 Closing Process part 10
10:40
Discuss cash controls as it relates to cash sales using a register.
Discussion Question 8 Cash & Internal Controls
1 question
Multiple Choice Questions 6 - Cash and Internal Controls
07:33
Multiple Choice Questions 7 - Cash and Internal Controls
08:50
Accounting Comic Break
00:15
+ Definitions & Key Terms
21 lectures 51:51
8 Definitions & Key Terms
00:39
Bank Statement Definition - What is Bank Statement%3F
02:42
Canceled Checks Definitions - What are Canceled Checks%3F
01:49
Cash Definition - What is Cash%3F
01:23
Cash Equivalents Definition - What are Cash Equivalents%3F
02:18
Cash Over and Short - What is Cash Over and Short%3F
02:15
Check Definition - What is Check%3F
02:15
Check Register Definition - What is Check Register%3F (1)
02:39
Deposits in Transit - What are Deposits in Transit%3F
02:39
Gross Method Definition - What is Gross Method%3F
03:43
Invoice Definition - What is Invoice%3F (1)
02:21
Liquid Assets Definition - What are Liquid Assets%3F
03:08
Liquidity Definition - What is Liquidity%3F
03:20
Outstanding Check Definition - What are Outstanding Checks%3F
03:00
Petty Cash Definition - What is Petty Cash%3F
03:15
Purchase Order Definition - What is Purchase Order%3F
03:17
Purchase Requisition Definition - What is Purchase Requisition%3F (1)
01:44
Bank Reconciliation Definition - What is Bank Reconciliation
05:13
Vendee Definition - What is Vendee%3F
02:05
Vendor definition - What is vendor%3F
01:51
Accounting Comic Break
00:15